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Page added on September 25, 2017

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The Financial Collapse is Coming, So You Better Know What You’re Doing

Business

Despite a week that included President Trump threatening to “totally destroy North Korea,” devastating hurricanes, monstrous earthquakes hitting Mexico and uncertainty with the Federal Reserve unwinding its massive balance sheet – famed investor Jim Rogers says the worst is yet to come.

“Last week was not the end of the world because the market is still making all-time highs,” the legendary investor and best-selling author said in his most recent interview with Kitco News.

But the current bull market – which is the second longest running – will end badly, according to Rogers, warning that the next financial meltdown is going to be the worst yet.

As for the timeline? The famed investor said the crash is coming sooner than we think.

“I would expect it to start this year or the next…and it’s going to be the worst in your lifetime and my lifetime,” he told Kitco News back in July.

The sole survivors will be investors that know what they are doing. “And the way to protect yourself is to invest in what you know,” he said.

Millennials Stay Away?

Rogers added that he plans not to be around twenty-somethings when the crash does come. “I have been around a long time and when things go bad, 26-year-olds don’t have enough experience.”

“When things are going right, we all need a 26-year-old. There’s nothing better than a 26-year-old in a great bull market, especially in a bubble, because they’re fearless,” said Rogers. The shortfall is that for a young investor a bull market will never end.

Rogers said it is a case of been there, done that. “When I was 26, I thought I was the smartest guy in the room — young guys and women make fortunes in times like this.”

“But I know that when things go bad, 26-year-olds just don’t have any experience,” he added

So how is Rogers preparing for the crash? The Singapore-based investor said he likes overlooked and hated markets including agriculture, Russian and Chinese stocks.

As for gold, Rogers said the metal isn’t hated enough to buy right now and it’s going to get “very, very, very overpriced” before the current run is over.

“When people say, ‘I never want to invest in gold again,’ that is when I want to invest in it …When everybody is throwing it out the window that is usually a good time to buy anything including gold. So far, there are too many people that love gold.”

Rogers noted that he bought gold “a long time ago” and has not made any serious purchases since 2010. Rogers previously told Kitco News said $1,000 gold is his target.

“I’m not buying gold and have not bought gold. I own gold and have owned gold for years but I’m not buying or selling it at the moment.”

“If and when gold goes down a lot, or under $1,000, I hope I’m smart enough to buy more gold because in the end, gold is going to go up a lot because when people lose confidence in governments and paper money, they always put their money in gold and silver.”?

On Monday, gold prices moved to session highs on safe-haven demand after tensions with North Korea escalated – December gold was last up 1.11% an ounce at $1,311.90.

Talking the crypto currency craze, Rogers said he wishes he had been smart enough to buy bitcoin five years ago or even as recent as five months ago. The digital currency is up some 300% since the start of the year, last trading over $3,900.

“[Bitcoin] sounds like a bubble and looks like a bubble, but don’t ask me because I missed the whole thing,” Rogers said.

KITCO



14 Comments on "The Financial Collapse is Coming, So You Better Know What You’re Doing"

  1. makati1 on Mon, 25th Sep 2017 8:16 pm 

    There was a day
    It was still called Cathay
    By those in the West
    Who travelled that way
    Silk and tea
    Porcelain and spice
    They brought us
    spaghetti
    We even took rice.
    For centuries
    We bought there
    Things we don’t need
    Brought for those
    Whose moral was greed
    The rice we still eat
    The tea we still drink
    But with preference
    For substances
    By which we don’t think.
    They sold us their goods
    For silver we stole
    We blasted their ports
    Filled their cities with holes
    Now that they make
    All the things that we take
    Our vanity cries
    To tell them more lies
    With centuries past
    Recovery fast
    No longer the first
    We’re afraid to be last.

    = T.P.Wilkinson

  2. Go Speed Racer on Mon, 25th Sep 2017 10:21 pm 

    Hopefully the economic collapse will
    include hyper inflation.
    Inflate all my debts away.

    In 1965 we got Hi-Fi

    In 2003 we got Wi-FI

    In 2009 we got Re-Fi
    (O;

  3. mick on Mon, 25th Sep 2017 10:28 pm 

    and deep fried in 2030

  4. Go Speed Racer on Tue, 26th Sep 2017 1:10 am 

    Ouch.

  5. GregT on Tue, 26th Sep 2017 1:40 am 

    “He likes overlooked and hated markets including agriculture, Russian and Chinese stocks.”

    Yet another ‘Anti-American’ American. Queue the paranoid delusional exceptionalist in 5, 4, 3, 2, 1……….

  6. makati1 on Tue, 26th Sep 2017 4:45 am 

    “…in the end, gold is going to go up a lot because when people lose confidence in governments and paper money, they always put their money in gold and silver.”

    Yep!

  7. DerHundistlos on Tue, 26th Sep 2017 4:53 am 

    NEW ZEALAND: THE POLLUTED PARADISE

    One year ago, more than 5,000 people fell sick with gastrointestinal illness in Havelock North, a suburb of New Zealand’s North Island’s Hawke’s Bay district. The suburb’s drinking water had become contaminated, resulting in the poisoning of a third of its population and contributing to the deaths of three residents.

    Drainage of wetlands, suburban sprawl, damming of rivers, population frowth, and one of the highest rates of agricultural land intensification are combining to form the perfect storm.

    http://www.aljazeera.com/indepth/features/2017/08/problem-zealand-water-sources-170831090704101.html

  8. fmr-paultard on Tue, 26th Sep 2017 6:48 am 

    please mak u not reading what i’ve been saying. gold is a way a former paultard is heading to the poor house. i’m sorry i keep saying i don’t want suicide shower and we keep disagreeing. the picture just became clearer. this is not about criticizing you. just stating my understanding.

    der dear, thanks for the link on intestina diseases. i’ve been saying it’s the same thing in the phils only 1000x worse.

    glad u no longer pratter on about cattle mutilation though. u seem to have a boundless imagination!

  9. fmr-paultard on Tue, 26th Sep 2017 7:25 am 

    der dear

    just to restate my research on cattle mutilation. basically, this is how a folksy brain works. it has an element of intrigue and it’s a product of a lazy mind. it brings much confusion to the countryside existence.

  10. fmr-paultard on Tue, 26th Sep 2017 7:38 am 

    what financial collapse? one can’t be in the same breath talk about fiat nature of money while also mentioning collapse.

    and at the same time agreeing with antius that peak oil doesn’t mean higher price.

    he’s also into virgin bribes so one can’t trust his thinking 100%.

  11. Boat on Tue, 26th Sep 2017 9:43 pm 

    mak,

    Visit the slums of Bataan Shipping and Engineering Company Compound or simply BASECO. Discover the resiliency of the residents making use of their limited resources for them to survive. Experience and understand the developing slums by the bay – their livelihood, battling produce from pollution and as residents with mutualism for change. Stroll on alleys and see residents in their humble dwellings overcoming the challenge of protracted access for water and electricity. Delve deeper on the atrocities that these residents are engaging each day and see how they manage to keep their enthusiasm for tomorrows and uncertainties it bears.

    HIGHLIGHTS

    Fishing Industry: Understand the battles slum fishermen are facing because of pollution.
    Charcoal Making: See how charcoal is produced from drift woods.
    Residential Areas: Walk through the locals’ houses and learn their condition.
    Slum Beach: Experience the grey sand beach of Baseco.

    Get outta that box you live in and take slum tours.

  12. GregT on Tue, 26th Sep 2017 10:18 pm 

    “Get outta that box you live in and take slum tours.”

    Do you ever go out for long walks at night Boat? Get up off of that couch, immerse yourself in the local culture, and go check out some of Houston’s night life.

    Clinton Dr/ Waco St

    Travis St/ Elgin St

    Fulton St/ Northline Mall

    N Macgregor Way/ Burkett St

    Leeland St/ Scott St

    N Main St/ Morris St

    Judiway St/ Piney Woods Dr

    Tidwell Rd/ Mesa Dr

    De Priest St/ Williamsdell St

    Main St/ Murworth Dr

    Don’t forget your AR, and sure to have plenty of ammo.

  13. DerHundistLos on Tue, 26th Sep 2017 11:28 pm 

    @ fmr-paultard

    Now boys and girls, this is a brain permanently stuck in a bad acid trip.

  14. makati1 on Tue, 26th Sep 2017 11:42 pm 

    GregT, Boat and Davy have no idea how their country really is. They live in bubbles created by their minds that exclude any negatives in their lives. Those bubbles are going to pop and expose them to the real FSofA. That 2X4 is really going to hurt.

    They keep trying to make the Ps look like hell on steroids when all they see are US propaganda and their own fantasies. I know there are slums here. I see them when I travel around the city.

    They are in the US also. Millions in the US sleep on the streets these days. Whole families. No US city is safe after dark. Get away from center city and they will experience trash, urine, vomit, street people, beggars, and what I call ‘rug rat mafias’. Gangs of underage kids that are like feral animals. How do I know? They existed in Philly 10 years ago and they are much worse now. There were places in Philly I didn’t even go in daylight.

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